If No Payment Is Received by the Due Date on a Credit

question 62

Multiple Choice

If no payment is received by the due date on a credit account,

• A)a credit bureau may be notified of slow payment.
• B)the company may begin collection efforts.
• C)the cardholder may be declared in default.
• D)(All of these)

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Definitions:

Approaches

Various methods or perspectives used to understand, explain, and study human behavior and mental processes in psychology.

Circular Reasoning

A logical fallacy in which the conclusion is supported by premises that presuppose the conclusion, offering no actual evidence.

Premise

A statement or idea that is taken as the basis for reasoning or argument.

Conclusion

A logical end or outcome derived from reasoning or observation.